Tag Archives: Subprime crisis

Read my latest Oxford University Press blog post on ultra-low rates. The post is based on a presentation I will make at the SUERF/OeNB/BWG Conference on “Asset-liability management with ultra-low interest rates,” at the Austrian National Bank in Vienna on … Continue reading →

Barack Obama recently indicated that he is unlikely to reappoint Ben Bernanke as chairman of the Federal Reserve when his term expires next January. Understandably, the media is focused on who might succeed Bernanke to lead the US central bank. … Continue reading →

Last Friday, a top British top financial regulator issued a report suggesting numerous reforms to the London Interbank Offered Rate (Libor). Libor, a benchmark interest rate that affects more than $300 trillion in financial transactions, is constructed from the cost … Continue reading →

Most of us spend more time thinking about the latest London Olympics results than the scandal surrounding the London InterBank Offered Rate, or Libor. That is a big mistake. We should be paying more attention to the Libor scandal. And … Continue reading →

Since the outbreak of the subprime meltdown, the Federal Reserve has shown itself ready, willing, and able to adopt unconventional monetary policies in order to reverse the downturn ushered in by the financial crisis. Recent Fed innovations have included quantitative … Continue reading →

I cannot let this day end without acknowledging the 145th anniversary of the failure of Overend, Gurney, and Company, which set off one of the 19th century’s more spectacular financial crises. Writing the day after the failure, the Times of … Continue reading →